4 hour Bitcoin Double Top within a potential Head and Shoulders
The top down analysis begins with last month forming an indecision month while approaching a neckline. The weekly is at a high which is a great time time to short especially since price formed a Weekly bearish engulfing followed but a doji for the re-test. Price has ceased forming Daily higher highs and instead my 8 exponential moving average has crossed to the downside of the 21 simple moving average. On 5/7/23 a new 4 hour lower low was confirmed. On 5.8.23 @ 16:14 pricer was creating an even lower low declining to $27,453.32. TDI isnt trending yet however the signals are bearish. Price needs to re-trace in order for me to take a short intraday position.
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